General Electric might sell its UK life insurance

General Electric might sell its UK life insurance

The financial times has reported that the General Electric is in talks with South African insurer Sanlam for a possible deal to sell its UK life insurance unit.

This deal if conducted could be worth up to a massive 500 million pounds ($891.1 million).

FT however has not named any source for this information though it did say that a deal of this magnitude would surely require the approval from the British regulator, the Financial Services Authority.

However, not many details were revealed. GE and Sanlam are yet to issue any statement denying or confirming this news report.

GE has been selling off their stakes in the insurance sector to focus on its other faster-growing businesses. Therefore, such a deal might be a possibility.